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Business models innovation based on crowds: a comparative study

Abstract

With arrival of information technology, interaction between consumers and companies become more common. It has implications for the way business function and for business models. The aim of the paper is to analyze crowdsourcing and compare crowdsourcing business models of three product and content crowdsourcing companies, their common features and differences. These companies differ considerably in many respects. The business model framework used is based on Osterwalder and Pigneur’s approach. The paper shows various consequences of using crowds. It shows that having crowds as a key asset implies a necessity to take care of the crowd and network effect before launching a crowdsourcing initiative. The paper gives those involved in crowdsourcing insight about factors crucial for their company and points to where they need to concentrate their resources.

Open access
Political news and stock market reactions: evidence from Turkey over the period 2008–2017

Abstract

The primary objective of the study is to examine the impact of political news (good and bad news) on the returns and volatility of Borsa Istanbul 100 Index (BIST-100). Sample data cover the period from January 2008 to December 2017. The main sample was divided into two subperiods to insulate the dominating impacts of both the 2008 Global Financial Crisis and 2013 Federal Reserve Tapering on Turkish stock markets. The daily stock market data were collected from the Electronic Data Delivery System (EVDS) web service, while political news headlines were collected from the Guardian newspaper. Different nonlinear volatility models (symmetric and asymmetric Generalized AutoRegressive Conditional Heteroskedasticity [GARCH]-type models) were used to model and estimate BIST-100 volatility in response to political news. The findings of the paper highlight four main results. First, there seems to be a significant impact of political news on the returns and volatility of BIST-100 index. Second, negative shocks derived from bad news tend to have a significant impact on the returns and volatility of BIST-100, while positive shocks derived from good news do not tend to have any significant impact on the returns, but decreased returns volatility. Third, political news, both good and bad, can affect stock return and stock return volatility in different directions, and this direction is time-varying. Fourth, the findings strongly reveal the presence of “Leverage Effect” in the returns of BIST-100 index. Therefore, one can say that political uncertainty is still a problem for the Turkish stock market.

Open access
5S system as a manner for improving working conditions and safety of work in a production company

Abstract

Currently entrepreneurs have the opportunity to use many methods and tools that support production management, quality and improvement of working safety. A method worth paying attention to is the 5S method, which brings order and discipline to the workplace. The article presents practical aspects of the implementation of the 5S method using five simple steps that give the real benefits to a company. Particularly the specific solutions that can be applied at every stage of the implementation of the 5S method is indicated. Also innovative ways of conducting internal audits are presented. In addition, a model for the implementation of the 5S concept was proposed, which supports maintaining the healthy standards at a high level. It has been pointed out that the implementation of 5S rules must be constantly monitored and improved. Therefore, supervision and motivational activities are particularly important, especially from the side of leaders and managers represented an organization.

Open access
Analysis of ergonomic work equipment lowering the static load based on trend of development of work activities

Abstract

The issue of static load arises as a result of the optimization of activities and the natural development of industry towards digitization, implementation of technologies in the production process and elimination of manual work. Due to the inherent need to facilitate or completely replace manual work with machines, human activity focuses on the development, design, and management of these machines. This article presents the results of a survey of the representation of professions with the primary seated position in the selected industrial enterprise in comparison with the most frequently registered professions in specific sectors. Likewise, the authors also deal with the elimination of static loads arising from the performance of sedentary work through ergonomic chairs offered on the Slovak market. The paper presents the results of the market analysis focusing on the parameters of office chairs, which are marked as ergonomic or health. The findings of these surveys serve as one of the starting points for the design of a complex dynamic office workplace, which the authors deal with in research at the Department of Industrial Engineering at the University of Zilina.

Open access
Analysis of selected technologies of precious metal recovery processes

Abstract

The article presents the technologies of obtaining precious metals as a byproduct in the processing of copper concentrates in KGHM POLSKA MIEDŹ SA and in the processing of zinc and lead concentrates in Huta Cynku “MIASTECZKO ŚLĄSKIE”. Discussed technologies for recovery of silver from secondary raw materials such as: used silver catalysts, scrapped electronic devices, defective transistors, scrap of silver-plated glasses, used solutions used for processing photosensitive materials are discussed. Jewellery and tableware and technical coatings in electronics and electrical engineering. The high reflectivity of the light rays from the silver surface was used in the production of special reflectors and mirrors, and chemical resistance in the construction of apparatus (such as equipment resistant to molten hydroxide alkali metals).

Open access
The analysis of shaft sinking progress as a function of technical and organizational parameters

Abstract

In underground mines, where the deposit is located at considerable depths, mining shafts are key excavations. The project of making the deposit available requires selection of appropriate shaft sinking technology adapted to geological and hydrological conditions and natural hazards. Shafts can be made using the classic drilling and blasting technique or mechanical cutting of the shaft face. Mechanical cutting requires the use of a mining machine, which together with machines for loading and hauling the output and protecting the side walls is a shaft complex. Drilling using mechanized shaft complexes allows for high efficiency and work safety. To improve the efficiency of drilling, it is particularly important to implement many processes in parallel. The article presents an analysis of the progress of shaft sinking with a mechanized complex as a function of technical and organizational parameters. The analysis concerned a new generation cutting shaft complex, developed for the needs of shaft sinking for one of the Polish hard coal mines. The calculations were carried out for a shaft with a maximum diameter of 9.5 m and a total depth of 830 m. The article briefly presents a new solution for the shaft complex. There are presented results of calculations of daily drilling progress and total time of shaft sinking for the developed working technology of this complex. The efficiency of the complex depends on many factors related to technical parameters of individual machines and devices forming the complex and organizational parameters, hence a multi-variant analysis was carried out.

Open access
Analysis of the similarity of hard coal mines in terms of the number of dangerous incidents caused by the activation of natural hazards

Abstract

Hard coal mines and mining enterprises involved in hard coal exploitation in the area of the Upper Silesian Coal Basin (Górnośląskie Zagłębie Węglowe) are characterised by the presence of natural hazards typical of this type of exploitation. These hazards include the risks related to methane, coal dust explosion, endogenous fires, as well as rock burst and caving of roof rocks. The article presents the results of a taxonomic analysis aimed at determining the similarity of hard coal mines and mining enterprises in Poland in terms of the dangerous incidents caused by the risks related to methane, coal dust explosion, endogenous fires, as well as rock burst and caving of roof rocks. The analysis was carried out for the 2008-2018 data and encompassed a total of 26 hard coal mines and mining enterprises located in the Upper Silesian Coal Basin. The analysis was performed using the k-means method of non-hierarchical clustering. The main objective of the article was to determine homogenous groups (clusters) of mines exhibiting the greatest similarity in terms of dangerous incidents caused by the activation of natural hazards in the years 2008-2018. These data can be successfully used for the development of preventive measures and risk analyses for these enterprises.

Open access
Application of Selected Methods and Approaches for Improvement of Processes and their Use in Practice in Companies of Wood Processing Industry in Slovakia

Abstract

The aim of the paper is to point out the principles of process management and selected quality management tools, which are aimed at improving the processes of the wood processing industries of the Slovak Republic. The knowledge from these areas is based on the analysis of the theoretical origins from domestic and foreign sources and supported by the results of the research carried out in the first half of the year 2017. In the processing of the results, classical methods of research work were used such as analysis, synthesis, comparison, descriptive statistics, contingency tables, chi-quadrat test and graphic depiction. Based on the analysis of the research results, there was a slight dependence between the process optimization levels in the timber industry and other process improvement methods such as statistical process control methods and graphical analysis and problem solving tools.

Open access
Application of selected methods of multicriterial assessment in the selection process of equipment used at the extraction face – case study

Abstract

Making decisions is a process that involves taking into account n acceptable variants of undertaken actions in view of m adopted assessment criteria and selecting the optimal variant (optimal variants). Due to the number of alternatives being assessed and the number of considered criteria, more and more frequently mathematical methods are used in this process. Basing on the example involving the selection of a mechanized longwall complex, the article presents the application of selected multicriteria methods: in the case of quantitative features – Hellwig's development measure method, and in the case of qualitative features – Promethee II method. In the case of Hellwig's development measure method, equipment variants were interpreted as points w in the multidimensional space, and then the distances between them and the point Po (perfect solution) were determined. In the case of the Promethee II method (discrete multicriteria decision support method), the equipment variants were compared with each other in pairs, which made it possible to determine the so-called net flows Φ(i). The obtained synthetic values mi and Φ(i) allowed to build rankings of equipment variants (objects) and to indicate the optimal variant.

Open access